PRIME MINISTER TO DISCUSS CURRENCY PROBLEMS AT CHOGMPrime Minister
Currency and stock market issues will feature at CHOGM, the Prime Minister Jim Bolger said today.
Mr Bolger will tomorrow (NZ time) discuss developments directly with Malaysian Prime Minister Mahathir and Prime Minister Goh of Singapore during bilateral meetings which precede the opening of CHOGM in Edinburgh.
Mr Bolger also discussed market developments today with senior business representatives at the Bank of Scotland. The Bank is a major investor in the New Zealand banking sector through its ownership of Countrywide Bank.
Mr Bolger told the Bank that the current stock market and currency instability sweeping through South East Asia had not affected New Zealand's major markets at this stage.
Mr Bolger said that as a global trader New Zealand could not be indifferent to instability in any of the world's markets.
"New Zealand exports span the world and none of our major markets, such as Japan, have been directly affected."
Mr Bolger also briefed the Bank on the Coalition Government's forthcoming reform agenda and its commitment to a Strategy for Growth, including responsible fiscal management, containing inflation and improving social services.